DenizBank’s Ratings Affirmed

DenizBank’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-term Foreign Currency Rating (LT FCR) and S hort-Term Foreign Currency Rating (S T FCR ) of DenizBank (DZB) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed DZB ’s B ank Standalone Rating (B SR ) of ‘b’ and C ore Financial Strength (C FS ) rating of ‘bb-’. The Outlook for the LT FCR and BSR remains Stable.

DZB’s BSR is derived from a CFS rating of ‘bb-’, reflecting the Bank’s moderate intrinsic financial, operational and business strength, and an O perating Environment Risk Anchor (O PERA ) of ‘b’ (indicating significant risk). The latter is a fundamental constraining factor for the ratings of all Turkish banks. The operating environment remains highly challenging because of high external liquidity risks resulting from low external…